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प्रश्न
Explain clearly tour ways by which the state can promote economic growth and development.
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उत्तर
Role of State in Economic Development:
- The provision of economic infrastructure is mainly the government's responsibility, which is essential for economic development.
- Capital formation is an essential condition for economic development. The state can use its fiscal and monetary policy to generate resources for capital formation. In our country, public sector investment in industries and expenditure on infrastructure has led to huge capital formation.
- Basic and heavy goods industries require huge investment and have a long gestation period. The private sector is reluctant to invest in the development of these industries, but our government has established such industries.
- Economic development in India would be incomplete without agricultural development. The government can promote agricultural development by providing various facilities and incentives to the agricultural sector.
संबंधित प्रश्न
Which of the following taxes generate civic consciousness among people?
Read the following statements carefully and choose the correct alternative:
Assertion (A): Income tax is a direct tax.
Reason (R): GST is an indirect tax.
Define fiscal policy.
State two objectives of fiscal policy.
Distinguish between fiscal policy and monetary policy.
Briefly explain why direct taxes foster civic consciousness among people.
Give two reasons why the government imposes tax?
State two drawbacks of direct taxes.
An indirect tax can be made progressive by imposing higher tax rates on luxuries. Justify the above statement.
State two differences between income tax and commodity tax.
